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    Sharie DeHart

    Recent Posts

    Take The Stress Out Of Identifying Cost Of Goods Sold And Other Construction Accounting Confusions

    Posted by Sharie DeHart on Tue, Apr 16, 2019

    Contractors often ask us if they can buy our Chart Of Accounts with Cost of Goods Sold and import them into their QuickBooks Desktop file or their QuickBooks Online file. The answer is yes!

    Click here for QuickBooks Desktop Chart of Accounts with Cost of Goods Sold

    Click here for QuickBooks Online Chart of Accounts with Cost of Goods Sold

    Direct Costs are tied to the jobs (field labor, material, and other cost items) Office material (pencils, paper, toner, etc. are overhead) Yes, an accountant could say these many pencils are used in the field, and that notepad is used in the truck. 

    The answer is the dividing line of what the DIRECT COSTS to the job and those are Cost of Goods Sold (COGS).

     


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    Topics: Invoicing, We Know Construction Accounting, QuickBooks For Contractors, Construction Bookkeeping

    Contractor Bookkeeping: Outsource Or Do It Yourself

    Posted by Sharie DeHart on Fri, Apr 12, 2019

    I would like to start my blog post by asking you to reflect on your WHY. Pause for a while and think about the reason or reasons why you started your business. I highly doubt that your answer is rooted in accounting tasks or involved any type of bookkeeping project at the slightest. It is apparent that you’re passionate about what you do and you love working in the construction industry, be your own boss, and have the freedom you’ve dreamed of.

    I admit, small business owners - like myself, have learned to make the most of the resources we have. And as an entrepreneur, tend to take on the challenge of wearing multiple hats. Marketing your business, answering phone calls, responding to emails, scheduling appointments – to name a few. However, I am reminding you now that being a company owner and doing your accounting and bookkeeping requires a totally different skill set from being a construction expert in your field. When it comes to your financials, it would be wise to take a step back and let someone who specializes in bookkeeping do it for you. Not just any accountant or bookkeeper, but see to it that they are Construction Bookkeeping and Accounting Professionals.

     


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    Topics: QuickBooks For Contractors, Construction Bookkeeping, QuickBooks Setup Do It Yourself, QuickBooks Construction Accounting, Assisted Do-It-Yourself Contractor Bookkeeping

    Profit Draining Invoice Errors Contractors Make Without Realizing It

    Posted by Sharie DeHart on Fri, Apr 05, 2019

    Creating an invoice for the entire project seems like it is the simplest way to track payments and have the current balance. The harsh reality is that if all of the work is NOT done, accounts receivable is reflecting a balance due that is NOT REAL. Without proper tracking and matching of income and expenses, most construction companies never know if they made a profit until the job is over.

    However, due to your work’s nature, as construction contractors provide services on a per-job operation, issuing invoices make it all the more challenging and difficult than it has to be. The good news is that it doesn't have to stay that way. Consider the following invoicing errors contractors make and take actionable steps on how to avert them.


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    Topics: Invoicing, QuickBooks For Contractors, Construction Bookkeeping, Payment Applications

    Unique Contractor Bookkeeping Problems Regarding Accounts Payable

    Posted by Sharie DeHart on Fri, Sep 07, 2018


    Common Issues With Accounts Payable

    It is easy to put transactions in Accounts Payable (A/P) Aging Summary, and them forget about them. When writing a check from the checking QuickBooks does not automatically go look to see if you put something in Accounts Payable. Sometimes Accounts Payable will have transactions in Accounts Payable that do not belong there.


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    Topics: QuickBooks For Contractors, Construction Bookkeeping, KPI, accounts receivable for contractors

    Unique Contractor Bookkeeping Problems Regarding Receivables

    Posted by Sharie DeHart on Fri, Aug 03, 2018


    Challenges Of Keeping Accounts Receivable Simple And Up To Date

    Creating an invoice for the entire project seems like it is the simple way to track payments and have the current balance. The harsh reality is that if all of the work is NOT done Accounts receivable is reflecting a balance due that is NOT REAL.


    Read More

    Topics: QuickBooks For Contractors, Construction Bookkeeping, KPI, accounts receivable for contractors

    36-Point Contractor Bookkeeping Review

    Posted by Sharie DeHart on Fri, Jul 27, 2018


    Construction Contractors know lots about the work they do. As an expert in their fields from finish carpentry, tile setter, masonry, roofer or landscaper the finished product looks beautiful. When a skilled craftsman does the work, it looks effortless. Others think I could have done that.

     

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    Topics: Android app for construction Contractors, successful contractor

    Hot New Construction Accounting Services At Fast Easy Accounting

    Posted by Sharie DeHart on Fri, Jul 20, 2018


    New Services For Contractors At Fast Easy Accounting

    We are continually searching for more and better ways to remove time wasting paperwork chores so you can focus on what you do best, running your construction company.

    Change occurs every day in our lives. (Hint: Only wet babies like change). Fast Easy Accounting must adapt to the needs of our Clients in a world that is mobile. Ten years ago, we only worked with clients in Washington State. Now our clients are all over the USA. With the addition of Fast Easy Accounting Store, we have helped Construction Contractors outside of the US. Contractors all over the world have common issues. QuickBooks and Xero Customized Setup, Chart of Accounts, Items Lists – We Can Help A Little or A Lot depending on your needs.

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    Topics: Contractor Bookkeeping Services

    Highly Successful Construction Contractors Have Access To Skilled Advisors

    Posted by Sharie DeHart on Fri, May 25, 2018

    Construction Contractors Need Help From Knowledgeable Advisors

    Everywhere there a Buzz Words and lots of people who say they are Experts in their field. Question is What the Expert knows is in a topic that is useful to you?

    Everyone wants to be paperless. It is not so much about saving a Tree as saving Time. How can I get to My Bookkeeper, My Accountant, My Tax Accountant the information they need to develop the reports?

    Most contractors tell me "Actually, I don’t want the reports I only want to know "scraps of information" so I can run My Business better. If there is an easy way to get the job done; I want to know it. There must be an App For That."

    There are several apps and we have one just for Construction Contractors. It does a lot but no app does everything.

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    Topics: Construction Contractor App, Contractor Tips

    The Right Construction Accounting Solution For Your Company

    Posted by Sharie DeHart on Fri, Feb 09, 2018

    Choosing From Many Construction Accounting Solutions Available

    Finding a solution that will do “All I Need It To Do” This is the challenge for Construction Contractors.

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    Topics: Job Costing In QuickBooks, Cloud Based Bookkeeping Services, contractor bookeeping services

    Contractor Are You Ready For A Very Happy New Year?

    Posted by Sharie DeHart on Fri, Dec 29, 2017


    The year has almost come to an end. Just a handful of things left to do. The term “Burning The Midnight Oil” comes to mind. Some things need to be done and date stamped on or before December 31 of each year or it does not count for the current year.

    Payroll – Did you take any personal payroll (S-Corp) If not, it may impact your personal deductions.
    IRA – 401K Making those final payments before midnight on December 31. (Do not wait until 11:59 PM)
    Some plans allow you to make payments until April 15th (double check the dates– do not assume)


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    Topics: Happy New Year

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